VAT Articles

Depreciation allowable deduction from works contract

Posted by Amit Bajaj 13 January 2012 29544 Views

There are two components in every works contract one is material component and other is labour component. Material incorporated in a works contract is considered as deemed sales to the contractee and hence is liable to VAT or sales t

Taxation of Hawala Transaction Under Vat

Posted by CA Umesh Sharma 18 October 2011 42539 Views

Hawala dealers are registered dealers. These dealers do not carry on business, but they provide false bills signed by them. They issue C forms and other requi

No disallowance of ITC to Innocent purchase for non payment

Posted by Amit Bajaj 08 October 2011 10910 Views

Innocent purchaser cannot be disallowed ITC for non payment of tax by seller-Landmark Judgement by P&H HC The Punjab & Haryana High court has delivered a landmark judgment namely Gheru Lal Bal Chand Vs. State of Haryana and another on 23/0

Applicability of VAT or CST on interstate works contract

Posted by Amit Bajaj 19 September 2011 76004 Views

In this article an attempt has been made to clarify the position in regard to the levy of VAT or CST on inter-state works contracts. The State Governments have the power under entry 54 of the State List of the Seventh Schedule to the Constitution

VAT on BOT contracts - A view point

Posted by Amit Bajaj 05 September 2011 13479 Views

The concept of Public-Private partnership in infrastructural development has given rise to the concepts of BOT contracts. BOT contract means Build-Operatre-Transfer, i.e the contractor is given a contract to build some infrastructure out of his

Issues in MVAT Act on the eve of Independence Day

Posted by CA Umesh Sharma 16 August 2011 14119 Views

SOME ISSUES IN MVAT ACT, ON THE EVE OF INDEPENDENCE DAY TIME TO ACT TOGETHER BY ALL INDUSTRIES AND TRADE BODIES Wish you all a very Happy Independence Day, the mood in our country is set against the

Powers of Inspection, Search & Seizure under Punjab VAT Act

Posted by Amit Bajaj 16 August 2011 11062 Views

Power of inspection, search, seizure can be easily found to be in every taxation law. The purpose of these powers is always to detect any tax evasion on the part of dealers but these powers are always ancilliary to the power of collection of tax of

TDS under TN VAT act & Rules

Posted by P.Jagadeeswaran 17 June 2011 88635 Views

Tax Deduction at Source or TDS under the Tamil Nadu Value Added Tax Act, 2006 & Value Added Rules 2007 In Tamilnadu, Tamilnadu Value Added Tax, 2006 received the accent of the Governor of Tamilnadu on the 14th of December, 2006 and was enact

Taxation of Works Contract under TN VAT

Posted by P.Jagadeeswaran 14 June 2011 73338 Views

Taxation of Works Contract under TN VAT! Meaning of Works Contract in TN VAT: Sec 2(43) defines as Works Contract includes any agreement for carrying out for cash, deferred payment or other valuable consideration, building constructi

Tax Liability in works contract, contractor or sub-contractors

Posted by Amit Bajaj 13 June 2011 120765 Views

In works contracts, between contractor and sub-contractors only one is liable to pay tax When works contract is sub-contracted there is only one taxable event and between main contractors and sub-contractor only one is liable to pay tax on the g